(Answered) 1 if personal consumption is 100 investment is 50

Economics

1. If personal consumption is $100, investment is $50, government purchases total $25, imports equal $20, and exports equal $10, then GDP equals:

A. $175
B. $165
C. $155
D. $145

2. Which is an example of a normative question?
A. What are the long-term effects of unemployment?

B. How do interest rates influence employment?

C. How do unemployment rates differ among nations?

D. How should a society achieve full employment?

3. Suppose that a customer's willingness to pay for a product is $5, and the seller's willingness to sell is $2. If the negotiated price is $3, how much is consumer surplus?

A. $1
B. $2
C. $5
D. $8

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